• WAVES/USD market line has only been fluttering around $2.50 point until the present.
• Traders should be wary of getting trapped by a possible false breakout of the $2.50 range spot afterward.

WAVES /USD Long-term Trend – Ranging

• Distribution territories: $3.50, $4, $4.50
• Accumulation territories: $1.50, $1, $0.50

Neither Waves market worth nor the US dollar price valuation has been able to end the long-ranging trend of the crypto-trade. The crypto’s market line has only been notably fluttering around $2.50 point until the present.

The 14-day SMA still lies flat underneath the 50-day SMA indicator. The current market line still showcases a sizeable extent as to how the price has been fluctuating around the smaller SMA trading indicator. The Stochastic Oscillators have conjoined their hairs around range 40. That signifies a continuation of range trend of the crypto-market.

The two SMA trading indicators are now closely located around the current market’s range spot, and that formation has brought about the thinking to keep nursing the ranging sentiment until the next sessions. The Price action at this point, which may suddenly emerge in favor of the bulls, will most likely cause a trap for them. As a result, the bears now have a greater advantage of having notable impacts on the market than the bulls in the long run.

Waves:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.